﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2010v3.2">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2011-08-26T15:01:58-05:00</Timestamp>
    <TaxPeriodEndDate>2010-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>ACCOUNTING STRATEGIES GROUP LLC</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>145 MAIN STREET PO BOX 369</AddressLine1>
        <City>PRESTON</City>
        <State>MD</State>
        <ZIPCode>216550369</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990EZ</ReturnType>
    <TaxPeriodBeginDate>2010-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>306038019</EIN>
      <Name>
        <BusinessNameLine1>GRAND NATIONAL WATERFOWL EDUCATIONAL TRUST</BusinessNameLine1>
      </Name>
      <NameControl>GRAN</NameControl>
      <Phone>4102280111</Phone>
      <USAddress>
        <AddressLine1>411B DORCHESTER AVENUE</AddressLine1>
        <City>CAMBRIDGE</City>
        <State>MD</State>
        <ZIPCode>21613</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>JAMES BENJAMIN</Name>
      <Title>CHAIRMAN</Title>
      <Phone>4102283831</Phone>
      <DateSigned>2011-08-23</DateSigned>
      <AuthorizeThirdParty>1</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>KATHRYN H GOODENOUGH-SMITH EA</Name>
      <Phone>4106731384</Phone>
      <DatePrepared>2011-08-23</DatePrepared>
    </Preparer>
    <TaxYear>2010</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="5">
    <IRS990EZ documentId="RetDoc1234200001" referenceDocumentId="RetDoc10046300000 RetDoc1051800001">
      <MethodOfAccountingCash>X</MethodOfAccountingCash>
      <WebSite>N/A</WebSite>
      <Organization501c3 referenceDocumentId="RetDoc1039100001">X</Organization501c3>
      <GrossReceipts>18835</GrossReceipts>
      <InfoInScheduleOPartI>X</InfoInScheduleOPartI>
      <ContributionsGiftsGrantsEtc>14300</ContributionsGiftsGrantsEtc>
      <OtherRevenueTotal>4535</OtherRevenueTotal>
      <TotalRevenue>18835</TotalRevenue>
      <OtherExpensesTotal>15500</OtherExpensesTotal>
      <TotalExpenses>15500</TotalExpenses>
      <ExcessOrDeficitForYear>3335</ExcessOrDeficitForYear>
      <NetAssetsOrFundBalancesBOY>130101</NetAssetsOrFundBalancesBOY>
      <OtherChangesInNetAssets>0</OtherChangesInNetAssets>
      <NetAssetsOrFundBalancesEOY>133436</NetAssetsOrFundBalancesEOY>
      <CashSavingsAndInvestments>
        <BOY>130101</BOY>
        <EOY>133436</EOY>
      </CashSavingsAndInvestments>
      <TotalAssets>
        <BOY>130101</BOY>
        <EOY>133436</EOY>
      </TotalAssets>
      <SumOfTotalLiabilities>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </SumOfTotalLiabilities>
      <NetAssetsOrFundBalances>
        <BOY>130101</BOY>
        <EOY>133436</EOY>
      </NetAssetsOrFundBalances>
      <InfoInScheduleOPartIII>X</InfoInScheduleOPartIII>
      <PrimaryExemptPurpose>CREATING SCHOLARSHIPS TO POST SECONDARY STUDENTS DESIROUS OF A CAREER IN THE NATURAL SCIENCES.</PrimaryExemptPurpose>
      <ProgramServiceAccomplishment>
        <DescriptionProgramServiceAccom>PROVIDING SCHOLARSHIPS FOR TUITION TO POST SECONDARY STUDENTS PERSUING DEGREES IN THE NATURAL SCIENCES</DescriptionProgramServiceAccom>
        <GrantsAndAllocations>0</GrantsAndAllocations>
        <ProgramServiceExpenses>15500</ProgramServiceExpenses>
      </ProgramServiceAccomplishment>
      <TotalProgramServiceExpenses>15500</TotalProgramServiceExpenses>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName>JAMES BENJAMIN</PersonName>
        <AddressUS>
          <AddressLine1>4 BELLEVUE AVENUE</AddressLine1>
          <City>CAMBRIDGE</City>
          <State>MD</State>
          <ZIPCode>21613</ZIPCode>
        </AddressUS>
        <Title>CHAIRMAN</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
        <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
        <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName>SKIP MILLER</PersonName>
        <AddressUS>
          <AddressLine1>5730 MORRIS NECK ROAD</AddressLine1>
          <City>CAMBRIDGE</City>
          <State>MD</State>
          <ZIPCode>21613</ZIPCode>
        </AddressUS>
        <Title>TRUSTEE</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
        <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
        <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName>KATHY O TIEDER</PersonName>
        <AddressUS>
          <AddressLine1>TAYLORS ISLAND ROAD</AddressLine1>
          <City>TAYLORS ISLAND</City>
          <State>MD</State>
          <ZIPCode>21669</ZIPCode>
        </AddressUS>
        <Title>TRUSTEE</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
        <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
        <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName>DON REISE</PersonName>
        <AddressUS>
          <AddressLine1>1708 BRANNOCK NECK ROAD</AddressLine1>
          <City>CAMBRIDGE</City>
          <State>MD</State>
          <ZIPCode>21613</ZIPCode>
        </AddressUS>
        <Title>TRUSTEE</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
        <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
        <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
      </OfficerDirectorTrusteeKeyEmpl>
      <OfficerDirectorTrusteeKeyEmpl>
        <PersonName>JACK SCANLON</PersonName>
        <AddressUS>
          <AddressLine1>5705 MORRIS NECK ROAD</AddressLine1>
          <City>CAMBRIDGE</City>
          <State>MD</State>
          <ZIPCode>21613</ZIPCode>
        </AddressUS>
        <Title>SECRETARY/TREASURER</Title>
        <AvgHoursPerWkDevotedToPosition>1.00</AvgHoursPerWkDevotedToPosition>
        <Compensation>0</Compensation>
        <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
        <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
      </OfficerDirectorTrusteeKeyEmpl>
      <InfoInScheduleOPartV>X</InfoInScheduleOPartV>
      <ActivitiesNotPreviouslyRpt>0</ActivitiesNotPreviouslyRpt>
      <MadeChangesToOrgnzngEtcDoc>0</MadeChangesToOrgnzngEtcDoc>
      <OrganizationHadUBI>0</OrganizationHadUBI>
      <OrganizationDissolvedEtc>0</OrganizationDissolvedEtc>
      <DirectIndirectPoliticalExpend>0</DirectIndirectPoliticalExpend>
      <MadeLoansToFromOfficers>0</MadeLoansToFromOfficers>
      <TaxImposedUnderIRC4911>0</TaxImposedUnderIRC4911>
      <TaxImposedUnderIRC4912>0</TaxImposedUnderIRC4912>
      <TaxImposedUnderIRC4955>0</TaxImposedUnderIRC4955>
      <EngagedInExcessBenefitTrans>0</EngagedInExcessBenefitTrans>
      <AmountOfTaxImposedOnOrgMgr>0</AmountOfTaxImposedOnOrgMgr>
      <AmountOfTaxReimbursedByOrg>0</AmountOfTaxReimbursedByOrg>
      <ProhibitedTaxShelterTrans>0</ProhibitedTaxShelterTrans>
      <StatesWhereCopyOfReturnIsFiled>MD</StatesWhereCopyOfReturnIsFiled>
      <TheBooksAreInCareOf>
        <NameBusiness>
          <BusinessNameLine1>JAMES BENJAMIN</BusinessNameLine1>
        </NameBusiness>
        <AddressUS>
          <AddressLine1>4 BELLEVUE AVENUE</AddressLine1>
          <City>CAMBRIDGE</City>
          <State>MD</State>
          <ZIPCode>21613</ZIPCode>
        </AddressUS>
        <TelephoneNumber>4102283831</TelephoneNumber>
      </TheBooksAreInCareOf>
      <ForeignFinancialAccount>0</ForeignFinancialAccount>
      <ForeignOffice>0</ForeignOffice>
      <MaintainAnyDonorAdvisedFunds>0</MaintainAnyDonorAdvisedFunds>
      <DoesOrgHaveHospital>0</DoesOrgHaveHospital>
      <TanningServicesProvided>0</TanningServicesProvided>
      <RelatedOrgControlledEntity>0</RelatedOrgControlledEntity>
      <TransactionWithControlEntity>0</TransactionWithControlEntity>
      <EngagePoliticalCmpgnActivities>0</EngagePoliticalCmpgnActivities>
      <EngageInLobbyingActivities>0</EngageInLobbyingActivities>
      <OperatingSchool>0</OperatingSchool>
      <TrnsfrsExemptNonCharRelatedOrg>0</TrnsfrsExemptNonCharRelatedOrg>
      <PartVIOfCompOfHighestPaidEmpl>NONE</PartVIOfCompOfHighestPaidEmpl>
      <PartVIAHghstPaidCntrctProfSer>NONE</PartVIAHghstPaidCntrctProfSer>
      <FiledScheduleA>1</FiledScheduleA>
    </IRS990EZ>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <PubliclySupportedOrg509a2>X</PubliclySupportedOrg509a2>
      <GiftsGrantsContribReceived509>
        <CurrentTaxYearMinus4Years>21535</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>17520</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus1Year>21325</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>14300</CurrentTaxYear>
        <Total>74680</Total>
      </GiftsGrantsContribReceived509>
      <Total509>
        <CurrentTaxYearMinus4Years>21535</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>17520</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus1Year>21325</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>14300</CurrentTaxYear>
        <Total>74680</Total>
      </Total509>
      <AmtsRecdFromDisqualPersons>
        <Total>0</Total>
      </AmtsRecdFromDisqualPersons>
      <AmtsFromSubstContributors>
        <Total>0</Total>
      </AmtsFromSubstContributors>
      <SupportFromDQPsEtc>
        <Total>0</Total>
      </SupportFromDQPsEtc>
      <PublicSupportTotal509>74680</PublicSupportTotal509>
      <GrossInvestmentIncome509>
        <CurrentTaxYearMinus4Years>4488</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>5044</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus1Year>5855</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>4535</CurrentTaxYear>
        <Total>19922</Total>
      </GrossInvestmentIncome509>
      <InvestmentIncomeAndUBTI>
        <CurrentTaxYearMinus4Years>4488</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>5044</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus1Year>5855</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>4535</CurrentTaxYear>
        <Total>19922</Total>
      </InvestmentIncomeAndUBTI>
      <TotalSupportTotal>
        <CurrentTaxYearMinus4Years>26023</CurrentTaxYearMinus4Years>
        <CurrentTaxYearMinus3Years>22564</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus1Year>27180</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>18835</CurrentTaxYear>
        <Total>94602</Total>
      </TotalSupportTotal>
      <PublicSupportPercentage509>0.78940</PublicSupportPercentage509>
      <PriorYearSupportPercentage>0.68760</PriorYearSupportPercentage>
      <InvestmentIncomePercentage>0.21060</InvestmentIncomePercentage>
      <PriorYrInvestIncomePercentage>0.17390</PriorYrInvestIncomePercentage>
      <ThirtyThreePercntTestsCY509>X</ThirtyThreePercntTestsCY509>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInfo>
        <ContributorNumber>RESTRICTED</ContributorNumber>
        <ContributorNameBusiness>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>RESTRICTED</AggregateContributions>
      </ContributorInfo>
    </IRS990ScheduleB>
    <IRS990ScheduleO documentId="RetDoc1051800001">
      <GeneralExplanation>
        <Identifier>OTHER REVENUE</Identifier>
        <ReturnReference>FORM 990-EZ, PART I, LINE 8</ReturnReference>
        <Explanation>DESCRIPTION: BANK INTEREST. AMOUNT: 4,535.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OTHER EXPENSES</Identifier>
        <ReturnReference>FORM 990-EZ, PART I, LINE 16</ReturnReference>
        <Explanation>DESCRIPTION: SCHOLARSHIPS. AMOUNT: 15,500.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <TransferPrsnlBnftContractsDecl documentId="RetDoc10046300000">
      <Declaration>THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.</Declaration>
    </TransferPrsnlBnftContractsDecl>
  </ReturnData>
</Return>